The Dale chairman, a lifelong supporter of the Spotland outfit, saw his beloved team promoted for only the second time in their history earlier this year.

Having waited 36 years to witness Dale playing above the Football League’s basement division, Dunphy is as desperate as the next fan to preserve their League One status.

But consolidating Dale’s position must not be done at a long-term cost the club cannot afford.

“It was always going to be difficult for us, going into the unknown after so long,” said Dunphy.

“We saw for ourselves just how tough it would be on the opening day, when we were given a really hard time by a Hartlepool side we thought would be one of the weaker teams in the division.

“It’s a difficult balancing act. It’s important that we strengthen the squad and that we continue to live within our means at the same time.

“We’ve got a budget and we will stick to it. It’s important not to bankrupt the club.

“If the worst-case scenario happens, and we get relegated, the club will survive next season.”

Not that Dunphy is fearing the worst. He has every confidence in manager Keith Hill and believes he can build on a solid start to life in League One.

“The manager’s doing an excellent job,” said Dunphy. “We started off far better than we expected this season. It’s caught up with us a little bit of late, and that’s why we need to freshen up the squad. But we’re not a million miles away.

“I’m sure we can build over the second half of the season because, if there’s one thing we have at Rochdale, it’s quick learners.”

The weekend’s cold snap denied Hill the opportunity to maintain the learning curve at the weekend by casting an eye over a Bournemouth side he believes have discovered the right formula since being promoted alongside Dale in the summer.

Boss Eddie Howe was able to keep his top players in preparation for the League One charge – barring Brett Pitman who signed for Bristol City – and the tactic has paid dividends so far with the Cherries sitting among the promotion contenders in fifth.

The Dale chief said: “Bournemouth are a team who came up with us and recruited when they needed to in order to build, and to give them the chance to carry on being successful.

“Eddie’s doing an excellent job and I’ve got a lot of respect for him.

“He has been helped by the fact that he has retained a lot of the players who got them promoted.

“It’s necessary to have those financial resources at certain stages to carry on being successful.

“They may have lost Brett Pitman to Bristol City over the summer, but when you consider the quality of players they’ve still got there – Lee Bradbury, Marc Pugh, Michael Symes, Rhoys Wiggins, Shwan Jalal – it’s no surprise that they’re doing well.”